A Medical Device Daily

DexCom (San Diego) reported that it has offered 15,844,000 shares of its common stock at a price to the public of $3 per share. Terrance Gregg, DexCom's president/CEO, also is purchasing 150,000 additional shares of common stock in this offering at a price per share of $3.12, which represents the last reported bid price on the Nasdaq Global Market of DexCom's common stock on Jan. 29. The gross proceeds to DexCom, before expenses, from the sale of shares are expected to be about $48 million.

The closing of the offering is expected to take place on Feb. 4. Piper Jaffray & Co. acted as sole manager for the offering.

DexCom is focused on the development of continuous glucose monitoring systems for use by patients at home and by healthcare providers in the hospital.

Diagnosoft (Morrisville, North Carolina/Palo Alto, California) a developer of magnetic resonance (MR) image analysis software that assists in diagnosis, staging and therapeutic monitoring of cardiovascular disease, reported the closing of $4 million in Series B financing led by Technology Development Fund (Cairo, Egypt).

The company said it intends to use the new capital to support further market expansion of Diagnosoft HARP, Diagnosoft PLUS, and Diagnosoft SENC. The capital infusion will also serve to further the development of other MR image analysis technologies designed to increase physician productivity and accuracy, improve patient outcomes, and enhance research and drug development advances, the company said.

According to Dr. Jerry Prince, a Diagnosoft co-founder, "There are many techniques for analyzing the left ventricle of the heart – ECHO, nuclear medicine, CT, and so – but we are focused on the emerging technology of MRI for the cardiac market. Diagnosoft is the only company directly looking at function, to see if the heart muscle is contracting properly; consequently, we are the only ones who can put all four imaging techniques together, and present it to the clinician in a single view."

The company's board has appointed Firas BenAchour president/CEO of Diagnosoft and a member of the board.

In other financings news:

• Patient Safety Technologies (Temecula, California) reported that it has closed on $2.55 million of new senior notes with net proceeds of $2 million. Proceeds from the financing will go primarily towards funding the continued growth of its primary operating subsidiary, SurgiCount Medical, a provider of tracking systems for surgical sponges.

"As hospitals face greater scrutiny, disclosure requirements and fines related to surgical complications that should be avoidable, so called "Never Events," the value proposition of the Safety-Sponge system continues to translate into increased customer adoption. The system has been successfully used in over 250,000 procedures at a growing list of leading institutions," said Dave Bruce, CEO of Patient Safety Technologies.

• Houlihan Smith & Co. (Chicago) completed advisory services for a non-control investment into Tri-Tech Health (Fort Lauderdale, Florida) as announced by Charles Botchway, group managing director and vice chairman of Houlihan. The advisory services were led by Houlihan Smith managing director Reginald McGaugh. Terms of the investment were not disclosed.

"We have been working with Mr. McGaugh and his team since the 3Q of 2008 and truly appreciate their efforts in helping us develop a comprehensive strategy to address our funding needs related to our substantial growth initiatives," said Dr. Michael Kazamias, CEO of Tri-Tech Health. "The financial advisory services regarding this investment were extremely valuable as we continue to expand on a national basis. Additionally, the value added services related to matching our strategic growth initiatives with our funding needs has been very instrumental in helping us to effectively position our company to achieve our goals and milestones."

Tri-Tech is a national e-health technology company that provides telemedicine wound care treatment and wound care management services to various managed care companies. It provides a network of physician-based specialty wound management utilizing a secure telehealth-based operating system over high-speed Internet connectivity in physician offices/clinics, skilled nursing and assisted living facilities, and in patients' homes.

• Health Care REIT (Toledo, Ohio) reported the pricing of its underwritten public offering of 5.5 million shares of common stock at $36.85 per share. The company has granted the underwriters an option to purchase up to an additional 825,000 shares during the next 30 days to cover any over-allotments.

The company estimates that the gross proceeds from this offering will be about $202.7 million (or about $233.1 million if the underwriters' over-allotment option is exercised in full).

The company said it intends to use the net proceeds from this offering to invest in additional healthcare and senior housing properties. Pending such use, the company said it intends to use the net proceeds to repay borrowings under its unsecured line of credit and other outstanding indebtedness. The offering is expected to close on Feb. 3, subject to customary closing conditions.

The joint book-running managers for the offering are Deutsche Bank Securities and UBS Investment Bank.

Health Care REIT is a real estate investment trust that invests across the full spectrum of senior housing and healthcare real estate.